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Nondeductible Dues
Compliance with the Tax Reform Act of 1993 requires that the portion of dues attributable to lobbying and political activities at the State and Federal levels of government be considered nondeductible for income tax purposes. This nondeductible portion must be disclosed to members on their dues invoice each year.
For 2009, with dues at $80 per member, NAR computes 33 percent or $26 to be nondeductible for the member's income tax purposes due to NAR lobbying efforts. This percentage is somewhat higher than in past years due to increased lobbying, advocacy and grassroots efforts across the country as well as new programming approved by the Board of Directors as part of NAR's Second Century Initiatives. Please note that the entire $35 Public Awareness Campaign special assessment qualifies as fully deductible.
For 2010, with dues at $80 per member, NAR computes 33 percent or $26 to be nondeductible for the member's income tax purposes due to NAR lobbying efforts. This percentage is somewhat higher than in past years due to increased lobbying, advocacy and grassroots efforts across the country as well as new programming approved by the Board of Directors as part of NAR's Second Century Initiatives. Please note that the entire $35 Public Awareness Campaign special assessment qualifies as fully deductible.
Compliance with the Tax Reform Act of 1993 requires that the portion of dues attributable to lobbying and political activities at the State and Federal levels of government be considered nondeductible for income tax purposes. This nondeductible portion must be disclosed to members on their dues invoice each year.
For 2009, with dues at $80 per member, NAR computes 33 percent or $26 to be nondeductible for the member's income tax purposes due to NAR lobbying efforts. This percentage is somewhat higher than in past years due to increased lobbying, advocacy and grassroots efforts across the country as well as new programming approved by the Board of Directors as part of NAR's Second Century Initiatives. Please note that the entire $35 Public Awareness Campaign special assessment qualifies as fully deductible.
For 2010, with dues at $80 per member, NAR computes 33 percent or $26 to be nondeductible for the member's income tax purposes due to NAR lobbying efforts. This percentage is somewhat higher than in past years due to increased lobbying, advocacy and grassroots efforts across the country as well as new programming approved by the Board of Directors as part of NAR's Second Century Initiatives. Please note that the entire $35 Public Awareness Campaign special assessment qualifies as fully deductible.
Thanks,
Jill